CANADA STOCKS-TSX futures down as Fed caution weighs

3 Min Read

March 19 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Monday as markets remained nervous ahead of a U.S. central bank meeting later this week.

While it is near certain that the Federal Reserve will raise rates by a quarter basis point on Wednesday, investors are more focused on whether policymakers think economic conditions are strong enough for four hikes this year, one more than the markets expect.

June futures on the S&P TSX index were down 0.12 percent at 8:15 a.m. ET.

Canada’s main stock index ended higher on Friday as strength in the price of U.S. crude oil helped drive up shares in energy companies.

Dow Jones Industrial Average e-mini futures were down 0.4 percent at 8:15 a.m. ET, while S&P 500 e-mini futures were down 0.42 percent and Nasdaq 100 e-mini futures were down 1.08 percent.

TOP STORIES

Caisse de depot et placement du Quebec, one of Canada’s biggest public pension funds, has relied on private equity firms to invest in leveraged corporate buyouts. Now it is building its own investing team to depend less on buyout firms as middle men.

Cenovus Energy Inc is seeking a partner to fund C$1.3 billion ($993.1 million) in costs to build the supporting infrastructure at its Narrows Lake oil sands project in Alberta, two people familiar with the matter said on Friday.